Bipartisan deal in Congress to delay flood insurance hike: sources
Critics of subsidized federal flood insurance say the benefits disproportionately favor high-risk and wealthy properties.
“Delaying the scheduled phase-out of flood insurance premium subsidies amounts to a gift to mostly wealthy homeowners who get to enjoy cheap insurance on their beach homes thanks to taxpayer support,” R.J. Lehmann, a senior fellow with R Street, a free market think tank, said in a statement.
